Lenders Protection LLC
Lenders Protection is a risk management program with default insurance coverage allowing approval for near/non prime automobile loans. Lenders Protection allows credit unions to customize their specific credit union costs and desired ROA while utilizing the Lenders Protection pricing arm.
- Lenders Protection has insured over 70,000 loans for credit unions.
- Lenders Protection on average covers 90% of the credit unions deficiency balance.
- With Lenders Protection credit unions on average yield a net ROA of 2.35%.
- There are over 170 credit unions in the Lenders Protection program.
- Lenders Protection has insured over 1.3 billion in auto loans.
- Lenders Protection has an average contract rate of 12.5 and FICO of 652.
- We have interfaced with multiple lending platforms for easy integration.
- Lenders Protection has increased credit unions loan volumes on an average of up to 30%.
Credit Union Eyes Insurance to Boost Prime Loan Volume - January 15, 2008
Coastal Federal Credit Union liked how its insurance controlled risk so much, that it plans to roll out the product on its prime lending side, most likely in mid-January, said Steve Sureda, manager of analytics and credit risk strategies for Raleigh, N.C.-based credit union.